Short Interest in Nokian Renkaat Oyj (OTCMKTS:NKRKY) Drops By 62.5%

Nokian Renkaat Oyj (OTCMKTS:NKRKY) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 3,710 shares, a drop of 62.5% from the May 31st total of 9,903 shares. Based on an average daily trading volume, of 4,785 shares, the days-to-cover ratio is presently 0.8 days.

Nokian Renkaat Oyj Trading Down 1.4%

NKRKY stock opened at $6.81 on Friday. Nokian Renkaat Oyj has a 1-year low of $3.59 and a 1-year high of $7.17. The business’s 50-day moving average price is $6.24 and its two-hundred day moving average price is $5.95.

Nokian Renkaat Oyj Company Profile

Nokian Renkaat Oyj, operating under the Nokian Tyres brand, is a Finnish manufacturer specializing in the design, development and production of tires for passenger cars, SUVs, trucks and heavy machinery. The company is particularly renowned for its winter tire technologies, offering a portfolio that includes studded and studless solutions engineered for snow, ice and challenging weather conditions. Nokian also produces all-season and summer tire lines, catering to a broad range of on-road and off-road applications.

The firm traces its origins to the Finnish Rubber Works founded in 1898 and emerged as an independent tire company following a spin-off from Nokia Corporation in 1988.